The latest clampdown by German and U.S. authorities on tax-evading clients at banks such as Credit Suisse could make Swiss wealth management firms alluring takeover targets, bankers say. Swiss private banks have been intensifying their cleanup of untaxed assets in an effort to limit the attention of foreign authorities, reducing risk for potential acquirer, writes Martin de Sa’Pinto and Edward Taylor. Union Bancaire Privee, EFG and Julius Baer are seen as targets.

A new song has emerged in the European funds industry, born in the midst of the financial crisis. It is called “let’s all do a Carmignac”. It may not be quite as catchy as the Conga, and maybe not quite as much fun, but it has certainly gained a number of followers.